Gett app: How a usual Startup with a Short Domain Name became a Million Dollar Company

Remember when we had to use a compass and a map to get to our destinations? Remember when we had to scream “Taxi! Taxi!” while standing in the middle of the road, even in the rain for about an hour till we get a taxi? No? We neither. 

Our worlds had taken a step forward in the last decade when transportation apps took a leap in society and made our lives more comfortable than ever. Today, more than 59% of people that own smartphones have at least 2 transportation apps downloaded on their phones. 

Transportation apps have not just become a massive advantage for the travelers but also the drivers, as it ensures to provide them with secure vehicle insurance, along with a monthly salary. It also gives them no time to wait between their rides, and even get extra when the passengers are late. Hence, it is safe to say that transportation apps are only running towards a future with extensive opportunities and challenges. 

With the vast market for the cabs-booking, a lot of apps have come into the game. And with great apps like ola and uber, its no cakewalk for an amateur app to gain success in the same Business. However, there have been some apps that did pull some of the user’s attention, and that managed to become an actual competition to these apps. Here is the story of one of them.

Gett app is also a mainstream app, similar to Uber, but only gives a severe competition to the top-rated apps.

How it started

Gett app started like other general apps, when founders and entrepreneurs from Israel, Dave Shahar Waiser, and Roi More developed the idea of building a taxi app, after waiting for 20 minutes at the airport in Palo Alto, California. Before setting up Gett, Dave had founded the Russian entity of publicly-traded Comverse and social TV offering Loyalize. After failing Loyalize to publicly-traded company Function(X), Dave set up Gett.

They originated the beta version in Hebrew which started working in Tel Aviv. Following two years of successful driving, the service was initiated in London in 2011.
In 2012, Gett spread to Moscow and started its first USA office in New York intending to transform the NYC taxi experience. By June 2012, the company had built more than $30 million.

Gett has also signified its appearance in the industry by tying up with companies. Gett for Business is the worldwide leader in the corporate on-demand transport market. It enables companies and their riders to schedule rides and track costs worldwide through a single platform.

The lead idea

Gett was built on a simple idea – “if you treat drivers better, they will treat riders better.” Serviced by the very best drivers, Gett establishes the standard for excellence. This is a single idea behind Gett app, they required to treat their drivers fit to provide better assistance to the riders. Gett has set its quality standards and has the best drivers. It is said to be Europe’s most significant on-demand taxi service by looking at its revenues.

How the app works

Gett, which was once called the Gettaxi trashes the typical hassles of becoming a taxi driver, while also making the method of getting a car more comfortable for customers. Gett takes the traditional taxi model of individually owned vehicles, a dispatcher, and a single receiver number, and replaces it with a smartphone app and a custom made dispatch answer.

For Gett passengers, when the app is first downloaded, a verifying code is sent to them through SMS to verify the phone number that they used to register. After requesting a ride, passengers will get automated SMS messages from the app, letting them know that their driver is on his way or he will be coming in five minutes. Or, “your driver is waiting for you at the corner of such and such streets.”

Gett also gives links to drivers and riders via Nexmo-supported SMS that provides news about upgrades, and any other relevant information.

Getting friendly with the drivers

Gett is different from the other taxi apps because it does not maintain its own group of drivers,  but preferably it will complement the assistance of existing taxi fleets. When a driver signs on to the principles, Gett trains them in the product and in customer service. Customer assistance lines will be open 24 hours a day, seven days a week. 

Gett founders also claim their payment system goes far ahead of Uber. It implies that 10% commission of the trip goes to a driver, no extra tips are required from the passenger, bonuses for 50 hours of riding with the app, and gifts for registering as the official Gett driver (up to $600).

Gett drivers have entrance to bus lanes, which can cut travel times by as much as 30%. On top of this, business clients are guaranteed to be picked up within five minutes. The facility to track vehicles with GPS gives even more precise information and decreases downtime spent calling to confirm or track rides.

The Gett has a unique taxation model which differs from country to country. It involves one of the three models – to charge a monthly dispatch fee from drivers, pricing a cost from drivers per ride or charge fees for corporate trips. Gett even planned dividing taxis with other users in the nearby area which is nothing but a share taxi feature in Uber.

Gett Business Solutions 

20,000 corporates globally, including Google and Volkswagen, already use the frictionless, end-to-end service from Gett Business Solutions. Gett’s corporate on-demand mobility solution “Gett For Business” boasts of a corporate clientele of over 6,000 leading companies worldwide. Gett For Business helps corporate executives save time, travel safely, and reduce operational costs.

Gett Business Solutions doesn’t just allow profits when compared to hailing taxis from the road and using other black cab booking firms. Specialist corporate accounts also offer pricing that is transparent and predictable. For trips over 3 miles, the entire cost of the journey is visible upfront, meaning that unpredictable circumstances such as traffic jams don’t result in unwelcomed variations in the passengers’ monthly cost reports.

Gett Business Solutions has set a new standard for corporate ground transportation, enabling companies and riders to book rides and track expenses worldwide through a single platform. It is already used by more than 20,000 companies worldwide who book and track mobility services in over 56 countries.

Gett Business Solutions gives insight into how their workers travel; the data allows businesses to improve efficiency, liability, and profit by understanding which of their departments drive the most, when travel tends to occur and where employees are. 

What’s so unique about ‘Gett.’

1. Predictable fares: How Gett differs from other cab-hailing apps is that its fares are always predictable. It has a no-surge warranty. For instance, wherever you want to go to Manhattan and at whatever time, it’s still $10. And its black cab fares in London are even cheaper than those of meter.

2. Going green: Since September last year, the company has carbon-offset every single ride by investing in projects around the world that combat deforestation and promote clean energy. They’ve partnered with EcoAct Ltd., who will offset the carbon the trips produce into various accredited and recognized projects in developing countries. Gett’s technology substantially reduces emissions by lowering ‘dead mileage,’ the distance each taxi does before picking up a fare. The organization is also balancing 7,500 tonnes of CO2, the price it is expected to produce in the next 12 months, by investing in approved carbon reduction projects produced by Carbon Clear, an organization that works with businesses to take down climate change.

3. 3 minutes faster than the competition: Gett is known to be usually 3 minutes more quickly than the competition in every city they’ve step into, which makes the company an exclusive option for the passengers in a hurry.

4. Special treatment for drivers: Gett’s drivers are highly experienced black cab drivers in fully licensed cabs, so they know their way around their cities like nobody else. They don’t have to drive around or wait near stations for passengers; they accept rides through the Gett app that provide more sensible routes in more convenient timeframes. During their working hours, they get to make the most journeys via the most efficient ways, using the advanced Gett tech.

5. Electric Taxis: unlike most other apps like Uber, Gett offers its customers electric taxis, one of the many options that can be found on the taxi catalog. This gives an extra bonus to the company as they stand in a place to emit less pollution.

6. Free Ride Credit: Passengers can give extra free ride credit to their friends and family, by using the code that can be shared from one app to another. The credit can be used after each ride, giving the passenger a wide range of discounts.

7. Special privileges for the handicapped: Unlike Uber, which uses ordinary cars, for the most part, Gett exclusively uses black cabs which are fully accessible to wheelchairs. The service will be available at no extra cost. Using the app, disabled customers will now be able to hail one of 8000 black cabs in the capital (or 2000 more elsewhere in Britain) with priority booking and up to 30% off fares.

Where it stands now

Gett has raised $693 million in venture funding so far from investors including Volkswagen Group, Da Vinci Capital, MCI Capital, and Baring Vostok Capital Partners. Its last round of funding was held in June this year when it raised $80 million at a valuation of $1.4 billion from existing investors including Volkswagen and Vostok Capital Partners. While the cost may be lofty, Vostok has actually cut Gett’s estimate by 6% in the current round.

As a point of comparison, Uber recently reported revenues of $2.7 billion for a quarter with an adjusted loss of $404 million. It is expected to be valued at $62 billion. The ride-sharing market is witnessing increasing competition across markets. The UK itself is getting to be a crowded market with Uber and BlaBla car, and now even Ola, the Indian ride-sharing service, announcing plans to expand. In the US, Uber and Lyft are the clear leaders in most markets. But by directly connecting with taxi drivers, Gett is managing to stay clear of the various union issues that Uber has to deal with.

More than 20000 organizations are already using Gett in over 1000 cities and 56 countries. Gett’ net sales are over $1 billion in mobility per year, and half of those sales are produced in NewYork and London. The valuable B2B services that it creates has already made Gett the offering margin effective across each of its markets.

Gett is on its way to becoming operationally successful across the globe in the first quarter of 2019. $300 million of its funding Gett has collected from the world’s number 1 car producer  Volkswagen Group. In 2018, Gett got a “Unicorn” rank and was estimated at $1.4 billion.

Raising $640M in funding, Gett was named one of the “top 15 explosively growing companies” by Forbes in 2016.

Summary

From just an idea to a multi-millionaire company, Gett has taken a leap in the busiest market in the world, with the unanimous competition. Is it all because of a short and catchy domain name?

Saumya Uniyal
Saumya Uniyal
Saumya describes herself as a writer with words running down her veins as phrases follow her down every path she walks on. The Journalism student is on a constant never-ending quest for finding her next best vacation. You can also spot her sipping coffee while solving puzzles at endearing cafes and bars.

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